Ripple CEO Brad Garlinghouse has pegged the odds of the CLARITY Act passing in April at 80% despite a gale of legislative headwinds. While Garlinghouse’s prediction is upbeat, cryptocurrency markets have failed to react, with Bitcoin (BTC) and Ethereum (ETH) prices slumping.
Garlinghouse Predicts CLARITY Act To Sail Through In April
Garlinghouse has expressed optimism for the Digital Asset Market Clarity Act to become law before the end of April. The Ripple CEO disclosed that the odds sit at 80%, making his prediction the most bullish among industry commentators.
While the CLARITY Act sailed smoothly through the US House of Representatives, the bill has faced a raft of headwinds in the Senate. Particularly, banking sector players are kicking against the CLARITY Act over stablecoin yields for holders.
Garlinghouse’s latest comments suggest that players in the banking and cryptocurrency sectors will reach a consensus in the coming weeks, laying the foundation for the bill to pass. He urged both sides of the divide to reach a middle ground, noting that no legislation is ever perfect from the start.
“Let’s not let perfection get in the way of progress,” said Garlinghouse.
He conceded that, despite the perceived clarity the Act will bring for ecosystem players, there are still areas in which he does not fully agree. Yet he confirmed that Ripple is backing the bill, given its brush with the US Securities and Exchange Commission (SEC) in its drawn-out lawsuit with the regulator.
“We want the industry to do well, and so we have been big advocates of getting this passed,” added Garlinghouse. “I’ll give it an 80% that by the end of April it’s signed.”
Meanwhile, sources indicate that the White House is likely to hold another CLARITY Act meeting in the coming day, seeking to help parties reach a compromise on stablecoin yield provision. Despite Garlinghouse’s optimism, Polymarket data indicate a 55% chance that the CLARITY Act will pass in 2026.
Crypto Markets Fail To React
The broader crypto market slumped amid comments from Garlinghouse on the CLARITY Act. Bitcoin (BTC) has since shed 6% of its market capitalization over the last 7 days, trading at $64,219, while Ethereum (ETH) remains below the $2,000 mark despite Harvard’s purchase.
Other altcoins had a torrid patch as well, with XRP and BNB in the red with near-3% declines on the 24-hour chart. At press time, the global cryptocurrency market capitalization sits at $2.22 trillion, while daily trading volume is pegged at $111 billion, a 2% increase over the last day.
Source: https://zycrypto.com/bitcoin-crashes-6-despite-ripple-ceos-80-clarity-act-prediction-why-markets-arent-reacting/
